Sri Lanka to Strike Crude Oil Deal with Iraq

Sri Lanka’s state-run oil company Ceylon Petroleum Corporation (CPC) has concluded talks with iraq’s State Oil Marketing Organization (SOMO) to buy crude oil from Iraq.

Speaking to the Asian Tribune , the Deputy Director General of SOMO, Majed Kadhim Yousif, who was in Sri Lanka to attend the seventh session of Sri Lanka-Iraq Joint Committee for Economic and Technical Co-operation, said that talks held with CPC had been very successful.

“On October 20, we had discussions with CPC and our government agreed to supply Basra crude oil to Sri Lanka. It’s just a matter of sending a Letter of Intent (LoI) from CPC to us, specifying the quantity required,” Yousif said.

Sri Lankan Minister of Industry and Commerce, Rishad Bathiudeen, making his opening remarks at the Seventh Session, expressed his desire for increasing trade ties with Iraq.

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